Sebi bars two entities, impounds ₹3.67 crore for rigging Sensex closing trades

India's market regulator Sebi barred two entities from the securities market and impounded ₹3.67 crore for allegedly manipulative trades during the closing auction session on August 13. Copthall Mauritius Investment and Mansi Share and Stock Broking were restrained from accessing the market, with Copthall's impounded gains at ₹2.96 crore and Mansi's at ₹71.64 lakh. The regulator also froze their bank accounts and prohibited them from placing, modifying, or cancelling orders during the session until further orders. The action came within six days of the alleged manipulation, which involved aggressive orders to influence Sensex closing prices. Sebi chairman Tuhin Kanta Pandey had warned of strict action hours before the order, noting the new system's improved ability to detect manipulation compared to the previous VWAP mechanism.